According to the World Intellectual Property Organization (WIPO), the United States Patent and Trademark Office (USPTO) received 598,085 patent applications in 2023. WIPO says that the USA is one of the leading drivers of growth when it comes to patent applications.
Before filing a patent application, there are strategic steps you must implement to protect your invention and make it market-ready. According to Jacksonville patent attorney J.D. Houvener, a patent is a strong tool that grants inventors a monopoly over their inventions for a limited period.
Let’s discuss the steps you need to take if you are interested in filing for a patent.
Conduct a Patent Search
Initial patent search can determine if your invention is novel or if it has already been patented.
Patent databases, like Google Patents or the US Patent and Trademark Office (USPTO), can be used to easily perform patent searches. Employ relevant keywords and classifications related to patent classifications corresponding to your idea.
Disengaging inventions might save a lot of time and money for you. If you find an existing one, maybe you need to abandon the idea or approach your invention differently.
An exhaustive search will give you confidence in claiming your patentability and will also strengthen your application. A little knowledge leads far in intellectual property matters.
Document Your Invention Thoroughly
The idea must be fully explained before a patent application has any chance of being granted. Write down all you know about your innovation, like what it is, how it works, and what it can be used for. Simple words anyone can understand should be used. Jargon will only confuse people.
Sketch diagrams or give a prototype for the idea. Doing this would serve to showcase the working concept of a certain invention. Keep a dated record of your development, listing improvements and any changes made. This record proves the evolution of your invention and backs your originality.
Gather any research or data supporting the possibility of the invention being made. Documentation makes or breaks any strong and convincing patent application.
Evaluate the Commercial Potential
How do you find a true potential market for your invention? Start by identifying your target audience. Know who your target customers are, their needs, wants, and problems.
Next, determine your competitor. Search for products similar to yours and weigh the pros and cons. Keeping an eye on your competitors will help you to position your invention.
Look into the trends in the market. Is their demand rising in this industry? Consider conducting surveys or holding focus groups with potential consumers to measure direct feedback.
Consider also the scalability issues. Can your product be produced on a large scale and marketed cheaply?
Now, estimate the profit potential. Is revenue big enough to justify patenting and producing?
Consider Non-Disclosure Agreements
Once you’ve first evaluated the invention’s commercial potential, protecting your ideas gets immediate attention.
One viable way of protecting your intellectual property is the use of NDAs. Consider the idea of an NDA when your invention is being disclosed to potential partners, investors, or collaborators, so they cannot disclose or use the ideas without permission.
Before revealing anything about your invention, prepare an NDA setting forth the terms of confidentiality and have it signed by the interested parties.
This process develops trust and also puts you in a position to sue in case of breach of the NDA. You can have a smoother patent process if you keep your invention a secret before filing a patent.
Choose the Right Type of Patent
Each one is intended to serve different functions and covers different aspects of working ideas, so choosing the right patent for the invention is important.
You may go for utility, design, or plant patents. Utility patents concern the functional aspects of a product. Design patents secure the looks and aesthetic features of a product. Meanwhile, plant patents concern new varieties of plants.
The difference can aid you in determining which patent to choose for your invention. You would want to study all of your options carefully before going for one patent. The type of patent you pursue will affect your ability to enforce your rights or even to make money out of the invention.
Also Read: Essential Strategies for Filing Global Software Patents
